Luminova Pharma Alliance Inc.
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Fonseca, Juan Reyes
USD $ 10,000,000
Project scope and objective
The transaction consists of a credit facility in favor of Luminova Pharma Alliance Inc. ("Luminova") to fund entry and growth working capital, primarily for new markets and products. It is a medium-term loan of up to 3 years, renewable for a similar term at IDB Invest's discretion. This will allow entry into new countries where appropriate grace periods are required to raise volume and recover initial investments, while renewability helps in a second stage of market consolidation.
The use of funds includes preliminary opening, registration, and formulation investments in several Latin American countries, an investment component in one of its treatment plants—which is key to achieving compliance standards—and the launch of a new line of non-branded generic drugs, providing access to populations with limited or no access to quality, low-cost drugs.
Luminova is a pharmaceutical company based in Guatemala, a producer of branded generic drugs with distribution and sales activities in Central America, part of the Caribbean, and South America.
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